SogoTrade Review

Active self-directed stock and options traders

FINRA

Founded 1986

Why investors choose this broker

$0 qualified limit orders can reduce stock and ETF trading costs
Qualified limit orders can earn $1.00 per 1000 shares
$0 options commission with a 50¢ contract fee
ACH transfers are available with no SogoTrade charge

Review summary

SogoTrade is an online broker for stocks, ETFs, options and crypto, with qualified limit-order rebates and web/mobile trading platforms.

Pros

$0 qualified limit orders can reduce stock and ETF trading costs
Qualified limit orders can earn $1.00 per 1000 shares
$0 options commission with a 50¢ contract fee
ACH transfers are available with no SogoTrade charge
SogoTrade Pro syncs alerts and watchlists with Web Trader
Copy trading lets users replicate trades in the social app
ACAT transfers of $10,000+ may be reimbursed up to $100

Cons

Market orders cost $2.88
Penny stocks add $0.0003/share or 0.25% principal fee
Crypto trades cost the greater of $1 or 1%
Outgoing domestic wires cost $25 and international wires cost $50
Regular mailed withdrawal checks cost $5
ACH-funded withdrawals can face a restriction of up to 60 days
Options level 4 or higher requires $5,000 minimum equity
SIPC and Apex excess insurance do not cover crypto transactions

Company background

SogoTrade, Inc. is a broker dealer that serves independent self-directed investors. The company has served investors since 1986 and focuses on online trading platforms, research tools and customer support. Its product range includes equities, ETFs, options, margin trading and cryptocurrency access through Bakkt. It also presents PowerYield Portfolios through SogoTrade Asset Management, with portfolio management and advisory services provided by MarketRiders, Inc., doing business as SogoTrade Asset Management.

Fees and pricing

SogoTrade has no minimum deposit requirement. A separate $100 minimum investment applies when purchasing stock priced below $1 per share. Qualified stock and ETF limit orders have a $0.00 commission, while market orders, OTC orders and non-qualified odd-lot orders cost $2.88. Qualified limit orders can receive a $1.00 credit per 1000 shares, and qualified GERM orders can receive $3.00 per 1000 shares.

Options pricing is $0.00 commission plus 50¢ per contract. Broker-assisted options trades cost $25 plus 50¢ per contract, and options exercise or assignment costs $15. Cryptocurrency trading costs the greater of $1 or 1% of trade value. ACH transfers have no SogoTrade charge, while outgoing wires cost $25 for domestic transfers and $50 for international transfers.

Regulation and safety

Brokerage services are provided by SogoTrade, Inc., a FINRA member and SIPC member. SIPC protection applies up to $500,000, including $250,000 for cash claims. Apex Clearing has additional insurance with aggregate protection up to $150 million, subject to limits of $37.5 million for any one customer’s securities and $900,000 for any one customer’s cash. These protections do not cover market losses and do not apply to cryptocurrency transactions.

Platform experience

SogoTrade offers web and mobile platforms. The SogoTrade Pro app supports mobile account opening, funding, customizable layouts, live Level I and II market data, options chains and price alerts. The SogoTrade App adds social feeds, trader following and copy trading. The web platform is built for stocks, ETFs and options, with charts, watchlists, analytics and customizable dashboards.

Pros and cons

SogoTrade stands out for its qualified limit-order pricing, options contract fee and GP2T credits. The main limitations are specific transaction costs: market orders cost $2.88, crypto trades carry a minimum or percentage fee, mailed checks and wire withdrawals have explicit charges, and crypto assets are outside SIPC and Apex excess insurance.

Ready to open an account at SogoTrade?

Open an account directly with the broker. Confirm current fees and account eligibility on the broker's website before depositing.

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Your capital is at risk. Other fees apply.

Trading fees & commissions

SogoTrade has no minimum deposit requirement, although stocks priced below $1 require a $100 minimum investment. Qualified stock and ETF limit orders have a $0.00 commission and may earn $1.00 per 1000 shares, while market orders cost $2.88. Options cost $0.00 plus 50¢ per contract, and cryptocurrency trades cost the greater of $1 or 1% of trade value.

Fees

Item	Fee
Crypto	Greater of $1 or 1% of the trade value
Options	$0.00 plus 50¢ per contract
Min Deposit	No minimum deposit required
Penny Stocks	$2.88 PLUS Low-Price Stock fee the greater of $0.0003 per share (Maximum 5% of principal) OR 0.25% of the principal amount of the trade
Ach Transfers	No charge
Acat Reimbursement	Up to $100 for transfers valued at $10,000 or higher
Outgoing Domestic Wire	$25
Stocks Etfs Otc Orders	$2.88
Options Broker Assisted	$25 + 50¢/Contract
Stocks Etfs Limit Orders	$0.00
Stocks Etfs Market Orders	$2.88
Check Withdrawal Overnight	$50
Options Exercise Assignment	$15
Outgoing International Wire	$50
Qualified Germ Order Credit	$3.00 per 1000 shares
Fixed Income Broker Assisted	Please call
Mutual Funds Broker Assisted	$25.00
Non Qualified Odd Lot Orders	$2.88
Qualified Limit Order Credit	$1.00 per 1000 shares
Check Withdrawal Regular Mail	$5
Check Withdrawal Weekend Delivery	$25
Low Price Stock Minimum Investment	$100

Trading platform & features

Platforms

Web app
iOS app
Android app
SogoTrade Pro App
SogoTrade App
SogoTrade Pro Web Trading Platform
SogoTrade Web Platform
SogoOptions

Regulation and investor protection

Brokerage services are provided by SogoTrade, Inc., a FINRA member and SIPC member. Securities accounts are protected by SIPC up to $500,000, with additional Apex Clearing insurance, but these protections do not apply to cryptocurrency transactions.

Broker FAQs

Is SogoTrade safe?

SogoTrade, Inc. is a FINRA member and SIPC member. SIPC protects securities customers up to $500,000, including $250,000 for cash claims, and Apex Clearing has additional insurance with stated limits.

Is SogoTrade a scam?

No. SogoTrade, Inc. provides brokerage services as a FINRA member and SIPC member, and customers can review its background through FINRA BrokerCheck.

Is SogoTrade regulated and by whom?

SogoTrade, Inc. is a member of FINRA. It is also a SIPC member, which provides securities account protection subject to SIPC limits.

What happens to my money if SogoTrade goes bankrupt?

SIPC protection applies to securities customers up to $500,000, including $250,000 for cash claims. Apex Clearing also has additional insurance up to an aggregate of $150 million, subject to per-customer limits of $37.5 million for securities and $900,000 for cash.

What does SogoTrade charge for stock trades?

Qualified stock and ETF limit orders have a $0.00 commission. Market orders, OTC orders and non-qualified odd-lot orders cost $2.88.

What does SogoTrade charge for options trades?

Online options trades cost $0.00 commission plus 50¢ per contract. Broker-assisted options trades cost $25 plus 50¢ per contract, and options exercise or assignment costs $15.

Is there a withdrawal fee at SogoTrade?

Outgoing domestic wires cost $25 per transaction and outgoing international wires cost $50 per transaction. Withdrawal checks cost $5 by regular mail, $50 overnight and $25 for weekend delivery.

What products does SogoTrade offer?

SogoTrade lists equities, ETFs, options, margin trading, cryptocurrency and PowerYield Portfolios. Its commission disclosures also include mutual funds and fixed income broker-assisted transactions.

Does SogoTrade offer ETFs?

Yes. SogoTrade lists ETFs among its investment products and includes stocks and ETFs in its commission disclosures.

Does SogoTrade offer crypto?

Yes. SogoTrade gives customers access to cryptocurrency trading through Bakkt and states that Bakkt supports 17 coins.

Does SogoTrade offer options?

Yes. SogoTrade offers options trading through a customizable multi-leg options trading platform with streaming quotes, analysis tools, risk management tools and flexible order entry.

What is the minimum deposit at SogoTrade?

There is no minimum deposit required. If purchasing stock priced below $1 per share, the minimum investment permitted is $100.

How do I open an account at SogoTrade?

SogoTrade says individual and joint applications can be completed online in less than 5 minutes. The process is to open an account, fund the account and start trading.

Does SogoTrade have a mobile app?

Yes. SogoTrade offers the SogoTrade Pro app and the SogoTrade App, with App Store and Play Store links shown for the Pro app.

How long does it take to withdraw from SogoTrade?

Withdrawal availability depends on the deposit method. Check deposits have a 10 business day holding period, wire deposits have 1 business day, ACH deposits have 5 business days, and recent trade proceeds may not be available until the 3rd business day.

Is SogoTrade good for day trading?

SogoTrade describes tools for active self-directed investors, including fast order entry, streaming quotes and options tools. Pattern day trader rules still apply, including a $25,000 equity threshold described in its margin FAQ.

Is SogoTrade good for long-term investing?

SogoTrade lists ETFs and PowerYield Portfolios alongside stocks, options and margin trading. Its investment products page refers to tools for managing stock trades, options strategies and long-term financial goals.

Bottom line

SogoTrade may suit active self-directed investors who want stock, ETF, options and crypto access with explicit limit-order pricing. It may not suit investors who prefer only simple market orders, low-cost wire withdrawals or crypto assets covered by securities-account protection.

SogoTrade

Active self-directed stock and options traders

Open Account

Your capital is at risk. Other fees apply.